Nine-Acre Site Near Levi’s Stadium Hits Market With Capacity for Nearly 1,000 Homes

A roughly 9-acre parcel at 2101 Tasman Drive and 2222 Calle de Luna in Santa Clara has returned to the market after BrightSpire Capital took control through a deed in lieu of foreclosure. JLL is marketing the site on behalf of the lender, with concepts ranging from about 600 apartments to two 22-story towers totaling 950 units.

The land sits inside the Tasman East Specific Plan area, a transit-oriented district on former industrial ground that Santa Clara has targeted for up to 4,500 homes (with an amendment under review that would raise that figure). Proximity to light rail, major employers including Nvidia, and Levi’s Stadium has kept the location in developers’ sights for more than a decade, even as earlier plans stalled before vertical construction began.

Apartments already completed in the district have leased quickly. Occupancy sits near 95 percent, with effective rents averaging about $3,684 for one-bedroom units and $4,916 for two-bedroom units. Those results, combined with continued Bay Area housing demand, are what BrightSpire expects will draw buyer interest as it looks to sell rather than hold the property.

Large, well-located residential sites remain scarce across Silicon Valley. A sale that moves this parcel into active development would add hundreds of homes within walking distance of transit and jobs, expanding options for people who live and work across the South Bay, including in San Jose.

Higher interest rates continue to complicate pricing conversations between buyers and sellers on sites like this one. BrightSpire has indicated it intends to market the property promptly rather than wait for financing conditions to shift.

Source: SVBJ

Santa Clara Seeks Developer to Rebuild Its Long-Lost Downtown

Santa Clara has released a request for proposals for a mixed-use project on roughly 4.8 acres of city-owned land at 900 and 1000 Lafayette Street. The site, near Santa Clara University, Caltrain, and the planned BART extension, is intended as the flagship property for a rebuilt downtown. Economic Development Director Reena Brilliot described it as a catalyst that can help restore the soul the city lost when much of its historic core was cleared in the 1960s for an urban renewal project that never materialized.

The RFP calls for at least 300 residential units, with 25 percent set aside as affordable, a two-story food and beverage hall, a town square, ground-floor retail, a theater that recreates the historic Santa Clara Theater, and additional community amenities. The requirements follow the city’s Downtown Precise Plan and Form-Based Code, developed after extensive community input. The current site includes Peddlers Plaza with several retail spaces and an older office building that would need major upgrades.

Brilliot noted that people often associate Santa Clara with Nvidia or Levi’s Stadium, yet the city has a deeper history. Restoring a walkable downtown with housing, gathering places, and cultural venues would give residents and visitors a central destination that has been missing for decades. The city is seeking a long-term ground lease partner and expects the selection process to take nine months to a year.

Proposals are due January 17, 2027. Interested developers must attend a mandatory pre-proposal conference on November 18. Details on the RFP and process are available through the City of Santa Clara website.

Source: SVBJ

Construction Advances on 195-Unit Affordable Housing Next to Berryessa BART

Crews have begun foundation work on a 10-story affordable apartment building at 825 Berryessa Station Way, immediately adjacent to the Berryessa BART station. Affirmed Housing is developing the project, which is expected to deliver roughly 195 units of housing restricted to low-, very-low-, and extremely low-income households, plus two manager units. Construction started in mid-2026 after the team secured $38.5 million from the state’s Affordable Housing and Sustainable Communities Program. A crane is now on site, and completion is targeted as early as spring 2028.

The building will contain about 217,500 square feet overall, with the majority devoted to residences. Plans also include a modest ground-level commercial space, community rooms, and a small garage. More than 100 of the units will have two or three bedrooms. The project sits on VTA-controlled land next to the elevated BART tracks and the existing VTA parking garage. It is designed to meet Green Point Rated Gold standards with a net-zero energy goal and will include indoor and outdoor community spaces, a computer lab, children’s play areas, and bike storage.

This is the first phase of a larger transit-oriented development on a multi-acre VTA site at the Berryessa Transit Center. Nearby, the broader Berryessa Urban Village plan envisions thousands of additional homes and supporting infrastructure on adjacent parcels, including property owned by the Bumb family that has city approval for dense mixed-use development. A separate project at 1655 Berryessa Road is also advancing with a mix of affordable and market-rate housing within walking distance of the station.

Residents of the new building will have direct access to BART, VTA bus service, and planned street improvements funded through the same state program, including safer crossings, bus lanes, bikeways, and additional sidewalks. The location places new housing next to existing transit rather than on the urban fringe. For households that qualify under the income restrictions, the building will add a substantial number of family-sized units within a short walk of rail service in Northeast San Jose.

Source: SF YIMBY

San Jose’s Skyline Soars: Urban Catalyst’s Game-Changing Project at West San Carlos and Josefa

Urban Catalyst, a powerhouse in local real estate development, is leading the charge with a project that’s set to transform Downtown San Jose’s landscape—and we’re here for it.

Picture this: an eight-story marvel rising proudly near the southern edge of Google’s proposed Downtown West neighborhood. This isn’t just any development—it’s Aquino @ Downtown West, a 272-unit apartment complex designed to tackle our housing needs while adding a sleek, modern touch to the city. With construction permits expected by the third quarter of 2025 and a potential completion date within a couple years, this project is a beacon of progress for San Jose residents and newcomers alike.

What’s so thrilling about Aquino? For starters, it’s a bold step toward easing the Bay Area’s housing crunch. With a mix of studios, one-, two-, and three-bedroom units, this development promises to welcome over 300 residents into the heart of Downtown.

But it’s not just about homes. This project’s location is a dream for anyone who loves the idea of a connected, walkable city. Just steps from Diridon Station and a stone’s throw from the SAP Center, Aquino sits at the crossroads of transit and entertainment. Plus, with Google’s ambitious Downtown West plans nearby, this corner of San Jose is poised to become a hotspot of innovation and activity. It’s the kind of place where you can hop on a train, catch a Sharks game, or stroll to a trendy new café—all without needing a car.

Urban Catalyst isn’t stopping here. They’ve already broken ground on the nearby Keystone, a 176-room Marriott TownePlace Suites hotel that’s slated to open its doors by summer 2025. Together, these projects weave a narrative of growth and opportunity, proving that San Jose is ready to shine as a destination for living, working, and playing.

Urban Catalyst received $6.1 million in interim funding last year to help push Aquino forward while the developer seeks full construction financing. The total cost of the project is expected to be $120-130 million.